Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 391.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,985 shares of the company's stock after acquiring an additional 28,667 shares during the quarter. Brighton Jones LLC owned approximately 0.06% of Sprout Social worth $1,105,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Sprout Social in the 2nd quarter valued at approximately $1,959,000. Hsbc Holdings PLC boosted its holdings in shares of Sprout Social by 134.5% in the 2nd quarter. Hsbc Holdings PLC now owns 13,589 shares of the company's stock valued at $472,000 after acquiring an additional 7,793 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sprout Social in the second quarter worth $218,000. Sei Investments Co. lifted its position in Sprout Social by 75.7% during the second quarter. Sei Investments Co. now owns 157,556 shares of the company's stock valued at $5,622,000 after purchasing an additional 67,866 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Sprout Social by 3.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company's stock worth $712,000 after purchasing an additional 750 shares during the period.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the transaction, the insider now owns 27,136 shares of the company's stock, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,265 shares of company stock worth $2,533,406 in the last 90 days. Insiders own 10.97% of the company's stock.

Sprout Social Trading Down 0.7 %

NASDAQ SPT traded down $0.22 on Friday, reaching $33.28. 335,097 shares of the company were exchanged, compared to its average volume of 403,644. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The stock has a market capitalization of $1.91 billion, a P/E ratio of -27.73 and a beta of 1.03. The business's fifty day moving average price is $32.09 and its 200 day moving average price is $31.19. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. Analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPT has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Sprout Social in a research report on Monday, November 18th. They set a "sector perform" rating and a $28.00 target price on the stock. Morgan Stanley boosted their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Piper Sandler decreased their price target on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a research note on Wednesday, January 15th. Finally, Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.42.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.